Post-Pandemic Supply Chain Digital Transformation Outlook for 2021
In 2021, as reported by Deloitte, the industry’s focus will shift toward transforming supply chains into more resilient and dynamic networks, which could be done using strategies such as onshoring, vertical integration, and increased cyber defenses. An example is the introduction of a new security requirement by the US DoD, the Cybersecurity Maturity Model Certification (CMMC). To further strengthen supply chains, OEMs and suppliers will leverage digital tools, including automating internal processes and streamlining workflows, implementing smart management systems, and using data analytics. Also, collaboration with regional players to build capabilities and shift manufacturing capacity when needed could make the A&D supply chain more robust and help the industry manage business disruptions. Many A&D companies are also using an ecosystem approach to strengthen their supply chains. In a recent survey conducted by Deloitte, 72% of industry executives said they are investing in supply chain ecosystems to leverage external alliance partners. Sounds familiar right? That’s because this is precisely the industry transition we’ve been preparing for at SyncFab so with the wind at our backs we expect to really set sail in 2021.
ABI Research expects industrial blockchain revenues to grow six-fold in the next five years, reaching US$2.1 billion globally by 2025. Industrial applications are only just emerging out of R&D and into production. “However, the opportunities are significant for distributed ledger technology, whether sharing a broad range of data and information or trade finance platforms and product marketplaces where industrial stakeholders can come together transparently and securely,” Menting adds. Companies such as SyncFab are making innovative inroads. Indeed as a first market mover and leader in this space we expect our growth rate to exceed the industry average projected by these researchers.
2020 was an exceedingly difficult and lean year due to the pandemic compounded by legacy enterprise inertia adopting new technologies in traditional industrial manufacturing supply chain which require advance preparedness nevertheless the impact and influence the pandemic crisis will have accelerating strategy progression incorporating new supply chain solutions like SyncFab means we’re anticipating growth of as much as 500% or possibly more in 2021. This in addition to other areas we expect growth working with major government contracting business in our focus industries as well as the opportunity to begin contracting directly ourselves. Our outlook for Q1 is detailed more below and includes opening the year as MOBI’s inaugural Automotive Blockchain Industry Innovation Lecture, launching a thoroughly redesigned Website, soon to be announced Major International Partnership Expansion and a whole lot more. In short, there is a lot to look forward to in 2021!
SyncFab Opening 2021 with MOBI Automotive Blockchain Supply Chain Innovation Lecture
MOBI announced it’s first lecture of 2021 with SyncFab on January 13! With SyncFab, procurement managers get the precision parts they need faster and cheaper, suppliers stay busy and profitable, and OEM IT teams gain a powerful new tool to assist with digital transformation in the part supply chain lifecycle from procurement to recall. Dennis Delgado, Chief Product Officer, and Vinay Munjewar, Blockchain Program Manager, will share SyncFab’s Automotive Manufacturing Supply Chain Blockchain Solution. You can register to attend HERE
Looking Back on 2020
2020 put us all collectively through our paces — the demands on not only our time and resources increased, but the twin pandemics of COVID-19 and essential business supply chain disruptions came together to demand more intentional, concentrated, and expanded efforts to formulate digital transformation solution approaches to monolithic supply chain structures. Blockchain has been in a slump, with almost half its 2018 market value wiped out in 2020. But the silver lining in that downfall has been the resiliency of industrial applications as confirmed in a report by ABI Research. “Supply chain implementations have been particularly successful and are having the greatest impact on the agri-food industry,” explains Michela Menting, Digital Security Research Director at ABI Research. “Combined with digital transformation efforts and IoT technologies, numerous blockchain-based platforms are moving into the production phase, paving the way for adoption into manufacturing, retail, and utilities markets. Transportation, shipping, distribution, and storage are key verticals for blockchain, and especially as they concern supply chain management, logistics, location and tracking, asset and inventory management.”
The blockchain market is still fairly young, with global revenues rather low, standing at US$374 million by the end of 2020. While many of the industrial applications appear promising, there are obstacles to implementation and adoption as with any new technology. “But there is no doubt that blockchain can offer real added-value to industrial markets, in line with the Industry 4.0 movement and associated technologies,” Menting concluded.
SyncFab profiled by ABI Research as Industrial Blockchain Market Innovator
SyncFab is a U.S. firm founded in 2017, focusing on smart manufacturing SCM through a B2B digital operations platform SaaS ecosystem. The firm’s goal has been primarily to address end-to-end procurement and post-procurement challenges OEMs face sourcing specialty parts production from an opaque long tail supply chain with digital transformation solutions that drive ROI. Industries targeted include space, aerospace and defense, automotive, maritime, oil & gas, and medical. SyncFab has developed a parts procurement supply chain digital operations platform that connects suppliers and manufacturers primarily in the precision hardware component production space (Computer Numerical Control (CNC) machines, sheet metal, stamping, 3dprinting and more). The platform connects buyers directly to hardware manufacturers and provides production tracking for parts, enabling provenance, tracking and tracing, and recall for end-to-end compliance.
SyncFab essentially integrates blockchain technology for data-driven optimized and smart manufacturing. The platform uses smart contracts to facilitate payments and give manufacturers greater control of pricing and capabilities in their supply chain. Smart contracts incentivize Requests for Quotation (RFQs) and quotes, track POs and purchase order milestones encrypted on the smart manufacturing blockchain, but only allow access to those with allocated rights to track, record, and monitor a manufacturer’s assets. Through the smart contract, manufacturing and transaction data are immutably secured and verifiable between the contracted parties involved. Data regarding purchasers’ and manufacturers’ profiles and their successful production orders will be recorded to the ledger, with each order leaving a digital paper trail of a company’s performance. Blockchain-centric features are powered by the MFG token for unique bid auctions, loyalty rewards and tokenization of unique parts in the supply chain for provenance and traceability.
SyncFab currently collaborates with local cities and federal agencies to build public-private partnerships in the space. The firm is an industry partner to the U.S. DOE and Commerce Clean Energy Smart Manufacturing Innovation Initiative (CESMII) and Commerce National Network for Manufacturing Innovation (NNMI). SyncFab is also an inaugural member of the supply chain standards work group for the Automotive Industry Blockchain Standards Consortium called the Mobility Open Blockchain Initiative (MOBI), which launched the supply chain work group in early 2020.
Going forward SyncFab’s roadmap through 2021 includes the development and launch of new SaaS service and features, new use case product development in space and aerospace, new strategic partnerships, increasing work with government acquisition agencies and contractors, expansion into Europe (hint, hint), and expanding the team.
SyncFab Enterprise Supply Chain solution published in Japanese Nikkei by Itochu/MOBI
SyncFab enterprise supply chain solution published in esteemed Japanese research publication on our collaborative work with MOBI Supply Chain Work Group including BMW, FORD, DENSO and BOSCH amongst many others. Thank You to Sanshiro Fukao, Research Director of Itochu Research institute and Chris Ballinger, CEO of MOBI. For our Japanese reading friends (soon to be republished in Chinese and English) you can find link to the publication for purchase HERE
SyncFab Presents at NTMA Annual Virtual Conference
November 17, 2020 our CPO presented for NTMA Annual Virtual Conference.
SyncFab Presents at Smart Manufacturing Experience SMX Virtual Conference
October 29, 2020 our CEO presented for The Best of SMX virtual event learnings about “Manufacturing Blockchain Solutions as Key to Digital Transformation.”
SyncFab CEO covered extensively by ERP Giant SAGE for Blockchain Supply Chain Solution
In it’sIndustry 4.0 article, ERP Giant SAGE extensively quotes our CEO how blockchain modernizes supply chains to meet new challenges: “AI can support the matching of data in the #supplychain, #blockchain is about the #security, formatting, and architecture for capturing #data – the secure plumbing, if you will, between endpoints.” The full article can be read HERE
SyncFab Joins Starburst Aerospace
We are delighted to share news of our acceptance to Starburst Aerospace the world’s leading Space, Aerospace and Defense accelerator with the largest aerospace innovation partnership stakeholder network as we build the secure aerospace and defense parts supply chain of the future!
Former CEO RUAG $2Bn Swiss Aerospace & Defense Co joins Advisory Board
SyncFab is delighted to announce Urs Breitmeier has joined our Advisory Board. Mr. Breitmeier retired from his position as group CEO of RUAG at the beginning of 2020 following a long tenure where he presided over the Swiss Government owned group’s strategic industry focus on Space and Aerospace development.
Urs is a highly experienced CEO in Space, Aerospace and Defense Industries and now a bonafide blockchain supply chain technology advocate. “There is a clear synergy between rapidly evolving space and aerospace supply chain requirements and blockchain technologies which need their functionality adapted to and integrated in the supply chain ecosystem in order to harness their full potential,” said Urs Breitmeier. “I fully believe in SyncFab’s vision for the industry and applaud their early efforts developing the supply chain support system of the future for space and aerospace and I’m honored to be part of the advisory team as it is a natural fit for me.”
SyncFab Solution Showcased at US Air Force AFWERX Flagship Annual Event
SyncFab was selected as a Showcase Technology Solution at the US Air Force AFWERX Flagship Annual Event on the Spotlight AFWERX Challenge of the Year entitled the “Base of the Future.” Our Showcase Page is still live and can be viewed HERE
SyncFab Welcomes USAF Veteran to Strengthen Aerospace & Defense Sales
Welcomes Jason Smith to Aerospace Sales. Jason joins the SyncFab Team from Houston, TX where he most recently served as Regional Sales Manager-Government/Commercial Programs at Nextant Aerospace where he was tasked with managing an account portfolio consisting of L3 Vertex Aerospace, United States Air Force, DynCorp, government agencies, and commercial airline companies to maximize customer satisfaction and retention, as well as uncover new business opportunities for engineering, maintenance and repair services where he achieved 120% of the annual operations plan (AOP) including four USAF contracts totaling. Prior to this Jason has held numerous positions in his career where he began as an E-4 A-10 Crew Chief 81-0943 for the United States Air Force with the 357th Fighter Squadron in Davis Monthan AFB, Tucson, AZ. Jason subsequently went to work for a decade with Gulfstream Aerospace where he presided over a 15-member team that was tasked with performing maintenance and repairs on support equipment and aircraft systems and placed significant focus on employee training and safety and security compliance. Jason later went to work for the Associated Air Center as a Project Manager, Boeing & Airbus MRO/VVIP serving as the primary contact for domestic, international, and military customers while guiding the planning and efficient execution of high-impact projects and managing a 10-member team of Mechanics.
Jason expressed great enthusiasm upon joining SyncFab to apply his experience and industry know-how to the Aerospace Industry sales cycle saying “I help high-growth companies in the aviation and aerospace industry exceed ambitious revenue goals by employing effective consultative and solution selling techniques to win new business opportunities and grow key accounts.”
SyncFab presents at Move America 2020
September 1 – 3, 2020 SyncFab was selected to showcase it’s solution at Move America 2020 The world’s most important mobility event, where disruptive technology and innovation drive much needed change. Over three days, MOVE America brought insights from more than 180 mobility leaders across a series of live presentations, live panel debates and live digital roundtables.
SyncFab Profiled in Signal Defense, Intelligence and Global Security Magazine
As the official publication of AFCEA, a well-known and respected organization that also has been serving government and military since 1946, SIGNAL is unique from other defense and government magazines and websites.
SyncFab CPO pens Blockchain Article for ThomasNet Supplier Portal
SyncFab Reported in SAGE ERP Article
Our CEO was quoted in an article by ERP company Sage America on the emerging importance of supply chain resilience in the new circular economy and how COVID19 exposed the weakness of the complex global supply chain model “a tiered structure of intermediaries between manufacturers and suppliers.”
SyncFab CEO interviewed by Decrypt Media Podcast how the Beirut Warehouse Explosion could have been better mitigated with DLT enabled Supply Chain Management
Our CEO was invited to discuss how Blockchain can be used in supply chain management to help mitigate warehousing disasters like the tragic occurrence that took place in the Beirut Blast incident. Thank You to Matthew Aaron of the Decrypt Daily Podcast for including us in this important conversation.
SyncFab CEO Profiled in FORBES on managing remote teams for success
Our CEO was was included in a Forbes writeup on managing remote teams for success in the new era of “Work from Anywhere.”
CEO delivers NASDAQ Center COVID19 Milestone Program Commencement Presentation
SyncFab CEO Profiled on NASDAQ Tower in Times Square
What to expect in Q1: Industry Innovation Lecture, New Website, International Expansion
In Q1 we will be launching 2021 as the inaugural innovation lecture presenting to key automotive and aerospace IT executives and directors updating them on the status of our manufacturing blockchain supply chain solution where we continue to inspire the entire industry leading the way as we innovate and build while other industry giants are content to watch and follow when ready. This will be soon followed by the release of a new website reflecting our learnings of 2021 towards a more intuitive user experience for traditional industry. Just as exciting we have plans soon to announce international expansion. Closer to home in the US it is also well known to industry insiders government contract acquisition spending in 2020 saw its lowest levels in 5 years which is expected to bounce back in 2021. Accordingly SyncFab is positioning it’s team to best prepare itself for the expected activity uptrend to follow and the company is considering external fundraising options to support accelerating growth opportunities with new government contracting certification eligibility which will be announced as soon as it becomes official. We also have planned new patent and trademark filings to demarcate our recent industry innovations which are quickly becoming the watchpoint for industry innovators. Through the course of enterprise blockchain business development efforts the company has also seen an increase in requests for new and custom blockchain use cases specific to industries we engage with in consideration for study or pilot in the new year. Furthermore the company plans to release a significant upgrade to the Supplier MFG Rewards feature for greater ease of use and navigation along with its new website.
What to expect in Q1: Industry Innovation Lecture, New Website, International Expansion
We at SyncFab continue to monitor the development of coronavirus (COVID-19) and it’s impact on our participant community and the manufacturing community as a whole. Please fill out this form for immediate assistance from a dedicated product manager.
COVID-19 Pandemic Response
Our team is fully committed to ensuring supply chain continuity to avoid production build schedule disruption for our OEM customers who continue to receive the high quality parts they need while protecting themselves using our remote work digital supply chain sourcing solution. SyncFab offers a remote digital work solution for OEM Part Program Managers and Engineers with access to a full suite of custom precision part production services on standard and expedite fulfillment schedules. Our distributed network exceeding 1,500 suppliers across the US and internationally affords us the flexibility to redirect workflow to maintain supply chain continuity and avoid disruption with the unique addition of supply chain security, authentication and traceability afforded by our Blockchain integrations.
SyncFab is Hiring!
We consider ourselves to be a very lean team of highly efficient operatives but we’re always striving to improve so we keep the talent pipeline open for candidates for: 1) Full Stack Blockchain Engineers, 2) B2B Enterprise Software Sales Professionals, 3) B2B Supply Chain Marketing Professionals, 4) Data Analysts.
Stop Corona Virus bottlenecks in your OEM Supply Chain: SyncFab allows OEMs to slash procurement time and cost for precision parts with SyncFab’s rapid response supplier network secured by blockchain for anti-counterfeit, recalls, smart payments & more.
Let us quote your precision machined parts at no cost or obligation to: sales@syncfab.com
Procurement Managers watch THIS VIDEO to learn more.
SyncFab helps Aerospace and Automotive OEM Purchase Managers stay on top of their demanding production schedules while shaving their parts procurement costs as much as half off benefiting from a vetted full range manufacturing capabilities network of 1000s of suppliers. SyncFab’s network precision machining capabilities include multi-axis milling and turning, routing, waterjet, laserjet, EDM, Electron Beam Welding, punching, cutting, shearing and finishing services including anodyzing, coating, plating, polishing and more.
SyncFab also works with OEM IT Departments whose aim is to secure more of their supply chain data with blockchain for ERP module and internal reporting system integration. OEM IT Departments can use their procurement activity blockchain records SyncFab generates to complete a Turnkey Supply Chain Blockchain Proof of Concept, Custom Use Case Pilot or Program Implementation. Furthermore — SyncFab’s patent pending parts procurement tokenization solution can be used to mitigate product fraud — isolate recall cost and time using blockchain track and trace feature technology at a fraction of the cost. Finally, OEM IT and Financial departments can partner to use the industry first MFG Manufacturing Token to create custom smart contract and supplier incentive programs such as RFQ and data sharing rewards.
Calling all Local Blockchain Engineers — Talented and Eager to Make a Difference in Manufacturing? Join Us!
We are always seeking additional blockchain engineers. Interested in joining our team? Learn more and apply here.
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